A lone medical marijuana dispensary in 2009, Green Tree Medicinals expanded into a handful of stores on the Front Range before eventually selling them all away.
Trees, a multi-state dispensary operator based in Colorado, has agreed to purchase two dispensaries and a handful of marijuana production licenses from Green Tree Medicinals.stores in Berthoud and Longmont, as well as 34,000 square feet of cultivation space and an extraction facility, all of which are located in Boulder. Specifics of the deal weren't disclosed in the announcement, but Trees will pay Green Tree Medicinals a mixture of cash and stock.
Green Tree Medicinals stores will be converted to Trees locations after the acquisition is approved by state and financial regulators. According to Trees, Green Tree Medicinals founder and co-owner Allyson Feiler will join the Trees board of directors and become the company's chief marketing officer, and co-owner Loree Schwartz will also join the Trees executive team.
According to Trees board chairman Carl Williams, the company will continue looking around Colorado for more marijuana acquisitions. “It is an exciting time at the Trees organization, as the last couple of years of hard work are beginning to bear fruit. We’ve developed a rich pipeline of target acquisitions and continue to enhance our internal capabilities," he says in a statement announcing the agreement."We would like to welcome the entire Green Tree team to the organization and see this as one more step towards becoming one of the strongest operational players in the Colorado market.
in a $39.5 million deal based largely on stock holdings. The year before, General Cannabis had purchased a 17,000 square-foot wholesale growing operation in Boulder. It took ownership of the new company, which retained the name Trees. Today Trees has three dispensaries in Oregon as well as the Colorado locations.
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